Corinthian Capital Group has completed the sale of its portfolio company AVL Digital Group, a self-publishing and distribution platform for independent content creators, to Stephens Capital Partners.
AVL Digital Group is a self-publishing and distribution platform for independent content creators such as musicians, filmmakers and authors, as well as a wide range of institutional clients. The company’s multi-channel marketing model includes social marketing, web search optimization, email and catalog marketing. Brands include CD Baby, HostBaby, Disc Makers, and BookBaby. The company is based in Pennsauken, NJ (www.cdbaby.com), (www.hostbaby.com), (www.discmakers.com), and (www.bookbaby.com).
Corinthian Capital supported management’s multi-brand strategy and helped transition a company known for providing CDs and DVDs to its clientele into an integrated provider of both physical media and digital services to a growing market of independent musicians, filmmakers, authors, and corporate clients. AVL Digital Group accomplished this through strategic acquisitions and through numerous organic growth initiatives. In 2012 the company released over 60,000 disc titles, and distributed over 110,000 titles digitally, with a total catalog under management of 4.5 million songs.
“Corinthian Capital was a great partner, encouraging us to leverage our leadership position in the independent music market to significantly expand our service offering,” said Tony van Veen, CEO of AVL Digital Group. “Through their support, we were able to strategically position the company to achieve significant growth, while delivering affordably priced manufacturing and distribution services to hundreds of thousands of musicians and authors.”
Corinthian Capital invests in niche manufacturing, distribution, and service businesses with EBITDAs between $10 million and $30 million located primarily in North America. Corinthian Capital is based in New York with offices located in Chicago and Boston (www.corinthiancap.com).
“The sale of AVL Digital caps a banner year for Corinthian, during which we completed 11 transactions, including the successful exit of two investments, four platform acquisitions, and five add-on investments to existing portfolio companies,” said Peter Van Raalte, CEO of Corinthian Capital.
The buyer of AVL Digital Group, Stephens Capital Partners, is the private equity arm of financial services firm Stephens, Inc. The firm is based in Little Rock, AR (www.stephens.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-23-13
